3148                                   LAWS OF MARYLAND                                 Ch. 805

such sinking fund shall be subject to such regulations as
may be provided in the resolution authorizing the issuance
of the bonds, but, except as may otherwise be provided in
such resolution, such sinking fund shall be a fund for the
benefit of all the bonds without distinction or priority of
one over another. Subject to the provisions of the
resolution authorizing the issuance of bonds, any monies in
such sinking fund in excess of an amount equal to one year's
interest on all bonds then outstanding may be applied to the
purchase or redemption of bonds. All bonds so purchased or
redeemed shall forthwith be cancelled.

13-5. Taxes to service bonds.

If in any year, or at any time, the revenues from rates
or charges hereinabove provided for, are not sufficient to
pay the bonds and interest thereon as the same shall become
due, then for the purpose of retiring bonds authorized to be
issued by this [subheading] SUBTITLE, and payment of the
interest thereon, there shall be levied against all of the
assessable property within that portion of the sanitary
district lying within Prince George's County, Maryland,
annually, so long as [said] THE bonds are outstanding and
not paid, a tax sufficient to meet the interest on [said]
THE bonds, and to pay the principal thereof as [said] THE
principal and interest mature or become due. [Said] THE tax
shall be determined, levied, collected and paid over to the
[said] THE commission in the manner provided by section [6
of chapter 122 of the Acts of the General Assembly of
Maryland of 1918, as amended] 4-5 OF THIS ARTICLE and all of
the provisions of [said] THAT section [6] shall apply to the
bonds issued hereunder.

13-6. Establishment declared public purpose; tax exemption.

It is hereby found, determined and declared that the
establishment of the boat basin and marina under the
provisions of this [subheading] SUBTITLE is in all respects
for the benefit of the inhabitants of the State of Maryland
or its political subdivisions and is a public purpose, and
that the State of Maryland or its political subdivisions and
the [said] commission will be performing an essential
governmental function in the exercise of the powers
conferred by this [subheading] SUBTITLE, and the commission
shall not be required to pay any taxes or assessments upon
the boat basin or marina or any part thereof or upon its
activities in the operation and maintenance of the boat
basin or marina or upon any revenues therefrom, and the
[said] boat basin and marina and the bonds of the commission
and the interest thereon shall be and remain forever exempt
from all state, municipal and local taxation. The exemption
from taxation herein provided for shall not, however, extend
to, include or apply to any property, real, mixed, personal,
tangible or intangible, or to any franchise, lease, or right
to do business, held, owned or used by any private person,
firm or corporation in operating any commercial activity or
supplying any goods, wares, merchandise or service to the